The Twelf Edition of Advanced Financial Accounting is an up-to-date, comperhensive, and highly illustrated presentation of the accounting and reporting pronciples and procedures used in a variety of bussiness entities. Every day, the business press carries stories about nerger and acquissition mania, the complexities of modern business entities, new organizational structures for conducting business, accounting scandals related to comples business transactions, the foreign activities of multinational firms, the operatins of governmental and not-for-profit entities, and bankruptcies of major firms. Accountants must understand and know how to deal with the accounting and reporting ramifications of these issues.